World News
Bunker Holding Group Boosts Biofuel Bunker Avails to 80+ Ports
Bunker Holding today said it has boosted its biofuel bunker supply locations to over 80 ports.
Without giving details of specific locations, the group said the vast majority, 75+, of those supply ports were located in Europe.
The Americas has 5+ locations for biofuel and anohter 5+ throughout the Asia / Pacific region.
The group has another 10+ locations under development, it added.
"During the past months, we have been intensifying our efforts on ensuring biofuel availability at numerous ports and at a global scale. This puts the Group in a unique position as a marine fuel supplier," said Manja Ostertag, Head of Biofuels, who is coordinating the global efforts to develop the supply of biofuels in key regions and ports.
"Providing a relevant and competitive value proposition including low-carbon fuels is a crucial part of our New Fuels strategy and key to succeed as a business, given the upcoming IMO and EU regulations."
The use of biofuel bunkers has been growing steadily in recent years as the industry responds to growing regulatory and commercial pressures to reduce its emissions footprint.
Biofuels are proving a popular choice for vessel operators to comply with the new rules as they typically reduce net emissions without requiring any modifications to the vessel.
Bunker Holding's announcement comes ahead of a major milestone for ship emissions regulations in Europe, with the EU ETS Emissions Trading System becoming applicable to the maritime industry from January 1, 2024.
All vessels above 5,000 GT will need to comply with the new rules.
Bunker Holding is the world's largest bunker company in terms of sales to end users of fuel with annual volumes of 30 million mt.
The company sells fuels through a network of individually branded, well known marine fuel companies, including Glander International Bunkering, Baseblue, and Dan Bunkering.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 624.50 | 1.00 | 732.00 | 8.50 |
| Rotterdam | 571.00 | 3.00 | 758.00 | 16.50 |
| Houston | 591.50 | 4.00 | 760.00 | 5.50 |
| Fujairah | 629.00 | 0.50 | 877.50 | 3.00 |
| Global 20 Ports Average | 637.00 | 0.00 | 819.00 | 3.00 |
| Global 4 Ports Average | 604.00 | 0.00 | 782.00 | 5.50 |
| Global Average Bunker Price | 688.00 | 2.50 | 879.00 | 1.00 |
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